RTTN:Crude Edges Down On Continued Eurozone Concerns
(RTTNews) - U.S. crude oil futures closed lower for a third straight session on Monday amid continued concerns about the eurozone debt crisis.
In Europe, a meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel in Berlin did not yield anything concrete, although it did ease some concerns about the euro.
Light Sweet Crude Oil futures for February delivery dropped $0.25 or 0.2 percent to settle at $101.31 a barrel on the New York Mercantile Exchange on Friday.
The dollar index, which tracks the U.S. unit against six major currencies, dropped to 81.127 on Monday from 81.263 late Friday. The index reached an intraday high of 81.47 before dropping. The dollar index had a strong run last Friday, reaching a 1-year high.
The euro on Monday regained some ground following last week's weakness, moving up to $1.2744 from $1.2725 late Friday in North America.
In economic news from the euro zone, Germany's trade surplus increased in November, the Federal Statistical Office said.
Exports grew 2.5 percent month-on-month in November, partially offsetting the 2.9 percent decrease seen in October.
Meanwhile, imports dropped 0.4 percent following a 0.1 percent increase in the previous month. Economists were expecting 0.5 percent monthly growth for both exports and imports.
